American Shales Add Jobs and Oil Production

American shale plays, such as the Eagle Ford and Bakken, might produce as much as 2-3 million barrels of oil per day by 2020. A recent report by the National Petroleum Council (NPC) and American Petroleum Institute (API) suggest shales might also add 1 million jobs over the next 10 years. That’s an employment boom this country needs. The oil & gas industry already supports some 9 million American jobs.

As people get hired it will be hard to refute, but we all have to work to help the rest of the nation understand that American energy creates American jobs.

America needs energy. America needs jobs. A way to get them both is right under our feet.

A recent report by the National Petroleum Council says the United States has a more abundant supply of oil and natural gas than previously believed. The report concludes that by 2035 America could be producing 2 million to 3 million barrels of oil per day from shale formations, including the Bakken shale in North Dakota and Montana and the Eagle Ford shale in Texas.

The Sept. 15 report forecasts that under the most optimistic assumptions, America and Canada combined could produce up to 22.5 million barrels of oil per day, if the U.S. lifts regulatory barriers. This would allow America to reduce its reliance on oil from other parts of the world.

Kenneth E. DuBose

Kenneth DuBose is the past President of Cheyenne Minerals Inc., an independent oil and gas operator. He began his energy industry career with ARCO Oil & Gas. Mr. DuBose then directed development of natural gas storage projects with Tejas Power Corp. He was a founding member of U.S. Minerals, (acquired by Torch Energy in 1999) a provider of internet based education for America’s mineral owners.
Mr. DuBose holds a BS in Petroleum Engineering from Mississippi State University. He has served on various industry steering committees, non-profit boards, and is an active member of the Society of Petroleum Engineers, the National Association of Royalty Owners, the American Association of Professional Landmen, as well as being a Registered Investment Advisor. He writes on topics of oil and gas investing, wealth management and personal finance, having appeared in the Wall Street Journal, Kiplinger’s, Kiplinger’s Personal Finance, Houston Business Journal, Financial Advisor and various radio and TV outlets.